UAE’s Flow48 Raises $69 Million to Expand SME Lending in MENA

UAE-based fintech company Flow48 has secured $69 million in a Series A funding round, made up of both debt and equity. Led by Breega, the round also included investments from 212, Speedinvest, Daphni, Endeavor Catalyst, Evolution Ventures and Plus VC. The company, which specialises in providing upfront financing to small and medium enterprises (SMEs), aims to scale its operations across the Middle East and North Africa.

Founded in 2022, Flow48 enables SMEs to access immediate capital by converting future revenues into upfront funding under flexible terms. The latest funding will support the company’s expansion in key markets such as Saudi Arabia and the UAE, while also exploring new opportunities in the region. A pre-Series A round in November 2023 had previously raised $25 million through a combination of equity and debt.

The company has secured a large and scalable debt facility from major financial institutions, strengthening its presence in South Africa while maintaining a strong foothold in the UAE. Plans are also underway to introduce new financial products tailored for SMEs and to enhance platform capabilities by leveraging alternative data and advanced risk assessment tools.

SME lending has been identified as a high-potential sector in the region, attracting increasing interest from both traditional financial institutions and fintech firms looking for strategic partnerships.